As enactedVersion · As enacted
Regional Development Banks Act 1997 · As enacted · Part III · Finance
28. Security on which loans may be granted" by the Bank
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
(1)
Any loan granted by the Bank shall be on security and other terms and conditions as may be determined by the
Board.
(2)
Notwithstanding anything contained in subsection (1), the Board may, in its discretion, grant loans without security in any cases in which the Board, for reasons to be recorded by it in writing, decides that such security is not necessary.